The property is still under mortgage with HSBC Savings. For illustration purposes, payments to the seller and assumption of the loan will be as follows: Earnest Money (10%): Php790,000.00 Cash Out upon Closing: Php3,910,126.63 Assume Balance from HSBC: Php3,199,873.37 Total: Php7,900,000.00 Original Term of Loan: 15 Years (Beginning April 2012 and ending on April 2027) Est. Balance as of January 31, 2016: P3,199,873.37 Payment to HSBC every 2 Weeks: P18,422.05 Next Repricing of Loan Rate: April 2017